180 Wealth Advisors LLC Lowers Stake in Atlassian Co. Plc (NASDAQ:TEAM)

180 Wealth Advisors LLC reduced its holdings in shares of Atlassian Co. Plc (NASDAQ:TEAM) by 46.8% in the second quarter, HoldingsChannel reports. The fund owned 624 shares of the technology company’s stock after selling 550 shares during the period. 180 Wealth Advisors LLC’s holdings in Atlassian were worth $204,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of TEAM. Pactiv General Employee Benefit Trust bought a new stake in Atlassian during the 1st quarter valued at about $26,668,000. HighTower Advisors LLC increased its stake in Atlassian by 277.9% during the 2nd quarter. HighTower Advisors LLC now owns 22,434 shares of the technology company’s stock valued at $5,760,000 after purchasing an additional 16,498 shares in the last quarter. CIBC Asset Management Inc increased its stake in Atlassian by 15.7% during the 1st quarter. CIBC Asset Management Inc now owns 11,910 shares of the technology company’s stock valued at $2,510,000 after purchasing an additional 1,620 shares in the last quarter. Pinebridge Investments L.P. increased its stake in Atlassian by 292.0% during the 1st quarter. Pinebridge Investments L.P. now owns 1,670 shares of the technology company’s stock valued at $352,000 after purchasing an additional 1,244 shares in the last quarter. Finally, First Pacific Advisors LP bought a new stake in Atlassian during the 2nd quarter valued at about $136,000. 85.92% of the stock is owned by institutional investors.

TEAM stock opened at $407.04 on Thursday. Atlassian Co. Plc has a twelve month low of $176.42 and a twelve month high of $420.23. The stock has a market capitalization of $55.89 billion, a price-to-earnings ratio of -145.37, a price-to-earnings-growth ratio of 62.83 and a beta of 0.84. The firm’s fifty day simple moving average is $373.48 and its two-hundred day simple moving average is $289.40.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings data on Wednesday, July 28th. The technology company reported $0.24 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.06. Atlassian had a negative net margin of 33.33% and a positive return on equity of 10.09%. The business had revenue of $559.54 million for the quarter, compared to analysts’ expectations of $521.61 million. Equities research analysts forecast that Atlassian Co. Plc will post 0.29 earnings per share for the current fiscal year.

A number of analysts have recently commented on TEAM shares. Mizuho lifted their price target on shares of Atlassian from $370.00 to $440.00 and gave the stock a “buy” rating in a research note on Friday, October 8th. Truist Securities lifted their price target on shares of Atlassian from $270.00 to $400.00 and gave the stock a “hold” rating in a research note on Friday, September 24th. Morgan Stanley lifted their price target on shares of Atlassian from $292.00 to $320.00 and gave the stock an “overweight” rating in a research note on Friday, July 30th. Piper Sandler lifted their price target on shares of Atlassian from $259.00 to $308.00 and gave the stock an “overweight” rating in a research note on Friday, July 30th. Finally, Wolfe Research started coverage on shares of Atlassian in a research note on Monday, August 30th. They issued an “outperform” rating and a $400.00 price target for the company. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $318.00.

Atlassian Profile

Atlassian Corp. Plc is a holding company, which engages in the design, development, license, and maintenance of software and provision software hosting services. Its products include Jira software, align, core, and Service Desk, Confluence, Trello, Bitbucket, Sourcetree, bamboo, opsgenie, and statuspage.

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Institutional Ownership by Quarter for Atlassian (NASDAQ:TEAM)

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